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Prisoners' Dilemma
A situation in game theory where two individuals acting in their own self-interest do not produce the optimal outcome for either party.
Optimal Behavior
Actions or decisions that maximize the benefit or utility to an individual or entity under given constraints.
Payoff Matrix
A table that shows the potential outcomes of different strategies in a competitive situation, typically used in game theory.
Strategic Choice
The decision-making process in the context of strategic management, where leaders select the best course of action to achieve organizational goals.
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